“In the Midst of Chaos, There Is Also Opportunity” (Sun Tzu)
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Show Notes
Summary of the day
Markets rallied until 1pm, then there was a selloff taking back half of the days gains
but markets closed up and every sector was green
We are simply trying to backtest the falling 50 day moving avg. On the SPY watch if we can get to $440 and how prices react
Magnificent 7
Breadth
117 new highs
200 new lows
70% advancing 25% declining
77% below 50 day ma
66% below 200 day ma
Stuck out
MSFT and AAPL red
Strong
Russell 2000 lead
Many names that are lower quality bounced
10 yr still too high
30 yr mortgage now over 8%
Weak
Volatility
What to watch
Watch mag 7
Watch yields
Economic data
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